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From 1977, banknotes were issued by the Central Bank of Sri Lanka. 20 rupees notes were introduced in 1979, followed by 500 and 1000 rupees in 1981, 200 rupees in 1998 and 2000 rupees in 2006. Sri Lankan banknotes are unusual in that they are printed vertically on the reverse.
The note was issued along with three commemorative coins; a five thousand rupees gold coin, a one thousand rupees silver coin, and a ten rupees bi-metallic coin. The 200 rupees commemorative note was the first time a Sri Lankan note had been issued in polymer plastic produced by Note Printing Australia.
The Sri Lankan Rupee (Sinhala: රුපියල්, Tamil: ரூபாய்; symbol: රු (plural) in English, රු in Sinhala, ௹ in Tamil; ISO code: LKR) is the currency of Sri Lanka. It is subdivided into 100 cents ( Sinhala : සත , Tamil : சதம் ), but cents are rarely seen in circulation due to their low value.
These were followed in 1952 by 2, 5, 50 and 100 rupees notes. The 1 rupee notes were replaced by coins in 1963. In 1963, a new coinage was introduced which omitted the monarch's portrait. Coins issued were aluminium 1 and 2 cents, nickel brass 5 and 10 cents and cupro-nickel 25 and 50 cents and 1 rupee.
The Central Bank of Sri Lanka has issued commemorative coins since 1957. On 15 December 2010, the Central Bank of Sri Lanka issued a Frosted Proof crown size multi-colour silver commemorative coin in the denomination of Rupees 5000 for the bank's 60th anniversary. [1] It was the first multi-colour coin issued by the Central Bank.
The demand for decimalization existed for over a century. Sri Lanka decimalised its rupee in 1869. The Indian Coinage Act was amended in September 1955 for the adoption of a decimal system for coinage. The Act came into force with effect from 1 April 1957. [12] The rupee remained unchanged in value and nomenclature.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories.
Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates (as the Gulf rupee), British East Africa, Burma, German East Africa (as Rupie/Rupien), and Tibet.